Market Updates

Marcus Today End of Day Podcast – Tuesday 17th October


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ASX 200 slipped from strong early gains to close up 29 points at 7056 (+0.4%) as geopolitical events hang and RBA minutes show RBA thought about a rate rise. Plenty of green on screen today with the Big Banks doing well, CBA up 0.5% and the Big Basket Basket up to $177.81 (+0.7%). Insurers rallied, with QBE up 1.7% and MQG rising 0.6%. REITs were better again despite 10-year yields rising to 4.55%. GMG up 1.0%, and VCX leading the gains, up 2.3%. Industrials were weaker as defensive slipped, WOW was flat and WES off 0.3%. Healthcare under pressure again as CSL slipped another 1.5% despite every broker being bullish as normal. RMD managed to flatline, but Retailers struggled on RBA minutes. JBH down 1.3%, SUL fell 0.9%, and BAP was dumped 11.5% following bearish AGM comments. HVN down 2.4%. Tech better following the Nasdaq higher, WTC up 1.0% and the All Tech Index up 1.0%. Meanwhile, resources once again better, RIO production report failed to dampen enthusiasm as iron ore rose in Asian trade. BHP up 0.9% and FMG up 1.4%. Gold miners were a little mixed, NST down 1.1%, and NCM getting another court approval for its merger rose 0.2%. Lithium miners were mixed, PLS off 1.0% and AKE bouncing back 2.8%. Oil and gas are a mixed picture too, with WDS up 0.1% but STO up 0.5% on shareholder agitation. In corporate news, COH fell 0.5% on AGM guidance, HUB up 1.4% on its FUA, and A2M fell 0.9% on its ongoing dispute with SM1. On the economic front, RBA minutes and ANZ consumer confidence, RBA looks still live for another hike. In Asian markets, Japan up 0.6%, China up 0.3% and HK up 0.7%. Dow Futures down 45 points. NASDAQ Futures down 23 points

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